In transactions over the past 12 months, the airport has extended its landholdings by 14ha and is believed to be circling other nearby properties.
The latest acquisition is a high profile 5.15ha site at Tweed Heads West, formerly the home of the region’s drive-in movie theatre.
Gold Coast Airport paid $11.45 million for 1 Wollemi Place that more recently had been earmarked for a Masters Home Improvement outlet.
The purchase follows the unveiling of the airport’s $300 million redevelopment plan, which will include two new wide-bodied aircraft stands and a three-level terminal, four aerobridges and improved ground transport facilities.
It also comes as the city’s overseas tourist numbers continue to soar.
Last year, Gold Coast Airport attracted a record six million passengers. The number of international passengers jumped 5.1 per cent to 942,318.
James Crawford and Darrell Irwin of Colliers International negotiated the sale of the Tweed Heads West site on behalf of local businessmen John Nosworthy and Glen Dawney of the Boyd’s Bay Group, a local landscaping company.
“With the growth in the tourism, particularly from Asia, it makes sense for the airport to consolidate surrounding landholdings for the longer term while they can,” Mr Irwin said.
According to CoreLogic RPData, the airport’s other acquisitions have included 7.28ha of vacant land at Parkes Drive, Tweed Heads West; 1.48ha at Boyd St, Tugun; and 1437sq m at Irene St, Tugun.
Gold Coast Airport chief operating officer Marion Charlton said the purchase of the Wollemi Place site was in line with its property strategy, which looks at land use on and off airport into the future.
She said plans for the holding would be revealed “in due course”.
Mr Crawford said the property had a holding income of $200,000 a year, exposure to the Pacific Motorway and easy access to the Gold Coast Highway and Gold Coast Airport.
He said more than 40 inquiries were fielded from potential buyers and four “competitive” offers were put on the negotiating table from local and interstate groups.
Mr Irwin said there was currently a very limited supply of multi hectare sites, particularly between Burleigh and Tweed Heads.
Original article published at www.couriermail.com.au by Phil Bartsch, The Courier-Mail 14/7/16